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Volaris announces resolutions of general ordinary annual shareholders meeting

MEXICO CITY, April 27, 2022 /PRNewswire/ -- Volaris* (NYSE: VLRS and BMV: VOLAR), announces the resolutions of the general ordinary annual shareholders meeting held on April 26, 2022.

Volaris Logo
Volaris Logo

The general ordinary annual shareholders meeting of the Company authorized all the items of the agenda with the majority of the votes.

A courtesy English translation of the shareholders' meeting resolutions summary are attached as an exhibit.

The information included in this report has not been audited and does not provide any information about the company's future performance. Volaris' future performance depends on a number of factors, and it cannot be inferred that the performance of any period or its comparison with the same period of the previous year is an indicator of similar performance in the future.

About Volaris:
*Controladora Vuela Compañía de Aviación, S.A.B. de C.V. ("Volaris" or the "Company") (NYSE: VLRS and BMV: VOLAR), is an ultra-low-cost carrier, with point-to-point operations, serving Mexico, the United States, Central and South America. Volaris offers low base fares to build its market, providing quality service and extensive customer choice. Since the beginning of operations in March 2006, Volaris has increased its routes from 5 to more than 188 and its fleet from 4 to 105 aircraft. Volaris offers more than 500 daily flight segments on routes that connect 44 cities in Mexico and 27 cities in the United States, Central and South America with the youngest fleet in Mexico. Volaris targets passengers who are visiting friends and relatives, cost-conscious business and leisure travelers in Mexico, the United States, Central and South America. Volaris has received the ESR Award for Social Corporate Responsibility for eleven consecutive years. For more information, please visit: www.volaris.com.

For further information, please contact:

Investor Relations Contact:
Félix Martínez / Naara Cortés Gallardo / ir@volaris.com

Media Contact:
Gabriela Fernández / gabriela.fernandez@volaris.com

Controladora Vuela Compañía de Aviación, S.A.B. de C.V. (the "Company")

Summary of the Resolutions Adopted by the Annual General Ordinary Shareholders' Meeting held on April 26, 2022.

I. Presentation and, if applicable, approval of the reports referred to article 28, section IV, of the Securities Market Law including the presentation of the financial statements for the year ended on December
31, 2021 and resolutions regarding the performance of the Board of Directors, Committees and Chief Executive Officer of the Company.

The following were presented and approved: (i) the report of the Audit and Corporate Practices Committee in terms of article 43 of the Securities Market Law; (ii) the report of the Chief Executive Officer in terms of article 28, section IV, subsection b) and article 44, section XI of the Securities Market Law, together with the opinion of the external auditor; (iii) the opinion of the Board of Directors on the Chief Executive Officer's report; (iv) the report of the Board of Directors referred to in Article 172, paragraph b) of the General Law of Business Corporations on the principal accounting and information policies and criteria followed in the preparation of the Company's financial information; (v) the report of the Board of Directors referred to in Article 28, Section IV, paragraph e) of the Securities Market Law on the activities and operations of the Company in which said board participated; and (vi) the Financial Statements of the Company and its subsidiaries for the fiscal year ended December 31, 2021, which show a net profit of MXN$2,120,551,000.00 (two billion one hundred twenty million five hundred fifty-one thousand pesos 00/100).

Each and every one of the acts performed by the Board of Directors, by the Audit and Corporate Practices Committee, by the Compensations and Nominations Committee, by the Chairman, by the Chief Executive Officer, by the Secretary, by the Deputy Secretary and by the officers of the Company in the performance of their duties during fiscal year ended December 31, 2021 were ratified and approved and released from all liability derived from the performance of their duties, to which effect they are granted the most extensive severance payment that may be applicable in compliance with the law.

II. Resolutions regarding the allocation of the final results for the fiscal year ended on December 31, 2021.

It was resolved that the net profits of the Company and subsidiaries obtained for the fiscal year ended December 31, 2021, which amount to MXN$2,120,551,000.00 (two billion one hundred twenty million five hundred fifty-one thousand pesos 00/100), be applied to the "retained earnings account" of prior years. Likewise, it was noted that the legal reserve of the Company amounts to MXN$291,178,000.00 (two hundred ninety-one million one hundred seventy-eight thousand pesos 00/100) as of the date of the meeting.

III. Resolutions of (i) the amount that could be allocated to the purchase of Company´s shares in accordance with article 56, section IV, of the Securities Market Law; and (ii) the report regarding the policies
and resolutions adopted by the Board of Directors of the Company, regarding the purchase and sale of such shares.

It was resolved that during the current fiscal year 2022 no resources will be allocated for the purchase of the Company shares.

IV. Appointment and/or ratification of the members of the Board of Directors, of the secretary, Deputy Secretary and principal officers of the Company.

V. Appointment and/or ratification of the chairman of the Audit and Corporate Practices Committee of the Company.

It was approved to ratify Mr. José Luis Fernández Fernández as Chairman of the Audit and Corporate Practices Committee of the Company.

VI. Resolutions regarding the compensation to the members of the Board of Directors, Audit and Corporate Practices Committee, Compensations and Nominations Committee and the secretary of the Board of Directors of the Company.

It was resolved to approve the payment of fees to the Chairman of the Board of Directors, the independent directors, the other Members and Substitutes and the Secretary of the Board of Directors, the members of the Audit and Corporate Practices Committee, the members of the Compensations and Nominations Committee and the members of any other working group that may be constituted to
assist in the activities and functions of the Board of Directors, for each meeting of the Board of Directors and/or the Audit and Corporate Practices Committee and/or the Compensations and Nominations
Committee attended, as follows:

VII. Appointment of delegates who will carry out and formalize the resolutions adopted by this meeting.

The delegates of the meeting were appointed to appear, indistinctly, before any notary public of their choice to formalize all or part of the meeting minutes, to arrange, if applicable, the registration, by
themselves or through the person they designate, of the corresponding instrument in the Public Registry of Commerce of Mexico City and to carry out all acts necessary to comply with the resolutions
adopted by the meeting; being expressly authorized to issue the necessary certificates of all or part of these minute.

Delegates of the meeting were appointed to indistinctly subscribe and file all kinds of certificates and documents and take all kinds of actions before the National Banking and Securities Commission, the
Mexican Stock Exchange, the S. D. Indeval Institución para el Depósito de Valores, S.A. de C.V. (Securities Deposit Institution), and any national or foreign authority, as well as any other public or private
company or institution, in connection with the resolutions approved by this meeting.

Cision
Cision

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SOURCE Volaris